Tidewater Middle East Co.

Tidewater Middle East Co.
Public
Traded as TSE: TAYD1
ISIN: IRO1TAYD0004
Industry Port operator
Founded October 1967[1]
Headquarters Tehran, Iran
Website www.tidewater.ir

Tidewater Middle East Co. (Persian: شرکت تایدواتر خاورمیانه‎) is a major port operator in Iran. In June 2011, the U.S. Department of Treasury sanctioned Tidewater for its alleged ownership by the Islamic Revolutionary Guard Corps (IRGC), which it says has used Tidewater for illicit weapons shipments.

Port operations

Tidewater has operations at seven Iranian ports, including Iran's primary port terminal, Shaheed Rajaee Port Complex in Bandar Abbas, through which some 90 percent of Iran's container traffic passes.[2][3]

U.S. sanctions

On June 23, 2011, the U.S. Treasury Department announced sanctions against Tidewater as well as Iran Air, the flag carrier airline of Iran. Treasury said it was blacklisting Tidewater for its ownership by the IRGC. The U.S. government additionally claimed that "the Iranian Government has repeatedly used Tidewater-managed ports to export arms or related materiel in violation of United Nations Security Council resolutions." The U.S. lists three documented incidents, most recently a seizure of an IRGC weapons shipments in Nigeria in October 2010.[4][5]

As a result of the sanctions, Maersk, the world's largest container ship operator, ceased all business with Tidewater-managed ports in Iran.[6]

References

  1. ↑ ادامه تأثیر تحریم‌ها بر حوزه تجارت دریایی ایران اتحاد جمهوری‌خواهان ایران
  2. ↑ Keith Johnson (24 June 2011). "U.S. Adds Sanctions on Tehran". The Wall Street Journal. Retrieved 5 December 2011.
  3. ↑ Emanuele Ottolenghi & Claudia Rosett (1 December 2011). "The Big Business Behind Iran's Proliferation". The Wall Street Journal. Retrieved 5 December 2011.
  4. ↑ "Fact Sheet: Treasury Sanctions Major Iranian Commercial Entities". U.S. Department of the Treasury. 23 June 2011. Retrieved 5 December 2011.
  5. ↑ "Joint Statement of Secretary Geithner and Secretary Clinton On Iran Sanctions". U.S. Department of the Treasury. 23 June 2011. Retrieved 5 December 2011.
  6. ↑ "Shipping Firm Maersk Suspends Business With Iranian Ports in Wake of Sanctions". Fox News. 1 July 2010. Retrieved 1 July 2011.

External links